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GIC Rates Increase
March 13, 2023
6:25 am
GR
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1 year GIC now 5.12%. Other GIC rates also up slightly.

May 29, 2023
7:03 am
GR
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GIC rates increased for 1 to 4 yrs., including 5.20% for 1 yr. and 5.10% for 2 yrs.

https://www.motivefinancial.com/en/rates

May 29, 2023
9:09 am
Dean
Valhalla Mountains, British Columbia
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.
Thanks for the update GR ... that's Good News ❗

And I was afraid/dreading they were going to go
the 'Other Way' ... LOL sf-laugh

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

May 29, 2023
9:38 am
mechone
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What happened all the guru's chimed in and said rates would not be going up . I believe BOC will raise to 4.75 next week

May 29, 2023
10:07 am
agit
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mechone said
What happened all the guru's chimed in and said rates would not be going up . I believe BOC will raise to 4.75 next week  

Funny isn't..... Similar to the following posting, just hoping no one in here took that statement seriously


....., it should be noted these are principle protected notes (PPNs). The Toronto-Dominion Bank, as issuer of the notes, guarantees the principle. TD Bank is, of course, a creditworthy issuer equal to, if not better than, the Government of Canada.   

May 29, 2023
11:00 am
AltaRed
BC Interior
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Dean said
.
Thanks for the update GR ... that's Good News ❗

And I was afraid/dreading they were going to go
the 'Other Way' ... LOL sf-laugh

    Dean

  

There is apparently strong demand for 1-2 year, even 3 yr fixed term mortgages recently, both new and renewals so that would at least partially explain the need to attract new deposits.

I think it is a roll of the dice on whether BoC moves up another 25bp in June or July. The mere speculation of doing so is changing market sentiment against rate cuts this year already.

May 29, 2023
1:15 pm
kesa
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....., it should be noted these are principle protected notes (PPNs). The Toronto-Dominion Bank, as issuer of the notes, guarantees the principle. TD Bank is, of course, a creditworthy issuer equal to, if not better than, the Government of Canada.   

  

where is the original post?

May 29, 2023
4:53 pm
AltaRed
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Motive is at the top of the charts in both GIC and HISA rates. I wonder what CWB is up to? Only about 20% of their loan business is personal loans and mortgages. The rest is commercial and industrial. https://www.cwb.com/-/media/cwbgroup/documents/IR/Quarterly-results-and-calls/2023-Quarterly-Reports/Q2-2023-Financial-Results/Corporate-Presentation.pdf

May 29, 2023
11:58 pm
RetirEd
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Everyone:

principle protected notes (PPNs). The Toronto-Dominion Bank, as issuer of the notes, guarantees the principle

That's PRINCIPAL, not PRINCIPLE. Otherwise it makes no sense.
RetirEd

RetirEd

May 30, 2023
7:33 am
hwyc
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kesa said
  

where is the original post?  

agit is cross quoting from another thread here ... leaving some readers clueless without a full context sf-confused.

May 30, 2023
8:21 am
Dean
Valhalla Mountains, British Columbia
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AltaRed said

There is apparently strong demand for 1-2 year, even 3 yr fixed term mortgages recently, both new and renewals so that would at least partially explain the need to attract new deposits.

. . .

That be one of the Main drivers of the current GIC inverted curve.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

June 26, 2023
6:40 am
GR
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All GIC interest rates increased including 1 yr. @ 5.30%. 2 yrs. @ 5.25% and 5 yrs. and 7 to 10 yrs. @ 4.95%.
GICs do not need to be exactly 1 yr. or 2 yrs., etc. For example, the rate of 5.30% would apply to GICs for a term of 1 yr. to under 2 yrs. (e.g. 23 months).
Reminder that Motive pays monthly interest at same rate as annual for clients ages 57+.

https://www.motivefinancial.com/en/rates

June 27, 2023
5:02 pm
mechone
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GR said
All GIC interest rates increased including 1 yr. @ 5.30%. 2 yrs. @ 5.25% and 5 yrs. and 7 to 10 yrs. @ 4.95%.
GICs do not need to be exactly 1 yr. or 2 yrs., etc. For example, the rate of 5.30% would apply to GICs for a term of 1 yr. to under 2 yrs. (e.g. 23 months).
Reminder that Motive pays monthly interest at same rate as annual for clients ages 57+.

https://www.motivefinancial.com/en/rates  

That's what they say 5 years ago at 55 ,I asked for interest to paid monthly "No problem" came due this year and renewed at 5.10 for 10 years paid monthly ,then bought another 100k @4.95 for 10 years...It's like a pension 850.00 paid monthly into savings at 4.10%

July 4, 2023
3:44 am
hwyc
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5% or above all the way to 10 yrs as of today sf-smile

July 4, 2023
6:43 am
GR
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All GIC rates are up for non-registered and registered GICs, including 5.60% for 1 yr. and 5.50 % for 2 yrs.

https://www.motivefinancial.com/en/rates

July 4, 2023
8:31 am
Dean
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.
Great to see ⬆, GR ... thanks for the heads-up ❗

Once again patience pays off, but I won't be betting the whole farm just yet. More FIs are sure to respond in-kind, and we may see even Higher Rates in the not to distant future.

It's evolving into a 'Savers Nirvana' sf-laugh

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

July 4, 2023
10:46 am
Lodown
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mechone said

GR said

Reminder that Motive pays monthly interest at same rate as annual for clients ages 57+.

https://www.motivefinancial.com/en/rates  

See below - It says only for GIC terms less than 12 months. Is it now any term length where interest can be paid monthly?

"6. The holder has the option to receive interest paid annually into a Motive Savings Account or to have the interest compounded annually and paid at maturity. On Motive GICs with a term of at least 12 months, customers over the age of 57 also have the option of having interest paid monthly into a Motive Savings account."

July 4, 2023
12:38 pm
Loonie
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The operative words are "at least". That means "equal to or longer than" 12 months.

July 4, 2023
12:51 pm
Lodown
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Loonie said
The operative words are "at least". That means "equal to or longer than" 12 months.  

Thanks. My bad. Read it too quckly.

July 17, 2023
1:46 am
Greedy Guy
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3 year GIC rate increased from 5.20% to 5.25%

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